BREAKING: US Crude inventories well above expectations

Crude inventories in the US rose by 4.32 million barrels in the week ended October 23rd, following an 1.001 million decline in the previous week and compared with analysts’ estimates of a 1.23 million increase, according to the EIA Petroleum Status Report.

Cushing Crude Oil inventories dropped 0.422 million barrels, following a 0.975 million barrels increase from last week.

Gasoline inventories decreased to 0.892 million barrels, following a 1.895 million increase in the prior period and below analysts’ expectations of 0.961 million barrels decline.

The publication of today's report did not have a significant impact on the oil prices. WTI Oil (OIL.WTI) continues to trade around the $37,30 level. Source: xStation5

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Large decline in crude inventories 🛢️📉

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